By Anushree Ashish Mukherjee (Reuters) – Gold prices fell on Wednesday as the dollar and Treasury yields firmed after U.S. inflation data prompted investors to scale back expectations of an oversized rate cut from the Federal Reserve next week. Spot gold was down 0.1% at $2,513.19 per ounce at 1:46 p.m. ET (1746 GMT). U.S. …
Gold falls as CPI data dampens talk of oversized US rate cut Read More »
MUMBAI (Reuters) – India enforcement agency seized 1.29 million rupees ($15,360) during searches in Mumbai and Kolkata related to an ongoing investigation of front-running at Axis Mutual Fund, the agency said on Wednesday. The Enforcement Directorate (ED) started its investigation last year after the country’s market regulator identified 305 million rupees in wrongful gains due …
India enforcement agency conducts searches in Axis Mutual Fund front-running case Read More »
By VarunVyas Hebbalalu BENGALURU (Reuters) -A 26-year-old man has been arrested for allegedly setting fire to an Ola Electric showroom in the southern Indian state of Karnataka over unsatisfactory servicing of a recently-purchased e-scooter, a police official said on Wednesday. The incident comes amid growing public ire over servicing at Ola Electric, India’s no. 1 …
Ola Electric customer arrested after setting showroom ablaze in India, police say Read More »
By Tanvi Mehta NEW DELHI (Reuters) -India’s cabinet has approved a scheme to spend 109 billion rupees ($1.3 billion) on incentives for the adoption of electric vehicles in its efforts to curb pollution and move towards cleaner fuels. The PM Electric Drive Revolution in Innovative Vehicle Enhancement, or PM E-DRIVE, scheme will give subsidies worth …
India approves $1.3 billion incentive scheme for electric vehicles Read More »
(Reuters) – India led the way in global adoption of cryptocurrencies for the second straight year as investors braved the country’s tough regulatory stance and steep trading taxes, a report from blockchain analytics company Chainalysis showed on Wednesday. The report, which tracks adoption across four sub-categories in 151 countries, showed India ranked high on usage …
India leads in crypto adoption for second straight year, report shows Read More »
By Haripriya Suresh BENGALURU (Reuters) – The market size of India’s global capability centres (GCCs) is likely to grow to $99 billion-$105 billion by 2030 from $64.6 billion in fiscal 2024, according to a report by IT industry body Nasscom and consulting firm Zinnov released on Wednesday. India’s GCCs have evolved from low-cost outsourcing hubs …
India’s global centre market to grow to $105 billion by 2030, says Nasscom-Zinnov report Read More »
By Nimesh Vora and Jaspreet Kalra MUMBAI (Reuters) – Indian importers are exploring options strategies to hedge against currency risks amid muted volatility in the rupee, moving away from outright forwards that have become expensive, traders said. Premiums, which reflect the interest rate differential between the United States and India, have surged as the Federal …
Indian importers favour FX options as rupee holds steady, premiums soar Read More »
By Jaspreet Kalra and Siddhi Nayak MUMBAI (Reuters) – India’s central bank will stick to its plan to ask lenders to set aside more funds for digitally linked deposits, despite the industry’s plea for a lower buffer to avoid a hit to their liquidity, three sources familiar with the matter told Reuters. In July, the …
Exclusive-India cenbank to stick to higher digital deposit buffer proposal, sources say Read More »
By Anushree Ashish Mukherjee (Reuters) – Gold prices held firm above the $2,500 level on Tuesday as market participants positioned themselves ahead of U.S. inflation data for further clues on the depth of interest rate cuts by the Federal Reserve next week. Spot gold rose 0.3% to $2,512.38 per ounce by 14:03 p.m. ET (1803 …
Gold holds firm above $2,500 level as US inflation data looms Read More »
BENGALURU (Reuters) -India’s SpiceJet said on Tuesday that Carlyle Group’s commercial aviation investment and servicing unit will write off $40.2 million of the airline’s lease arrears and convert $30 million of its arrears into equity. The conversion, at 100 rupees ($1.19) per share of SpiceJet, is a 56% premium to its close on Monday. The …
India’s SpiceJet says Carlyle Aviation will write off $40 million of lease arrears Read More »
